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 Accrual anomaly is based upon the reasoning that it is important to measure if a company's earnings are based on real cash inflow or on revenue recognition from questionable accounting practices. Since companies with lower levels of accruals have more certain real earnings, they should earn higher market returns. This strategy will take a long position in low accrual companies and a short position in high accrual accompanies. It is important to note that this strategy requires fundamental data from the current and past year in order to perform its analysis. As a result, it won't be implementable in live trading at this time.
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